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Cryptoknowmics 2022-07-06 13:15:38

XEC Technical Analysis: Trendline Breakout Prepares A Bull Run

XEC Technical Analysis shows a bullish breakout of the resistance trendline teasing a price jump to the next resistance level at $0.000065. Key Technical Points: XEC prices skyrocketed by 12.73% on the 4th of July, resulting in the wedge breakout. The price action shows a resistance trendline breakout. The 24-hour trading volume of eCash is $61.64 Million, indicating a rise of 250%. Past Performance of XEC The XEC price action reflects the start of a new bullish trend after a downtrend within a long-coming resistance trendline. However, the bullish reversal comes with a double bottom formation with a neckline at $0.000045. Hence, the technical chart shows the market price ready to surpass the neckline shortly. Source – Tradingview XEC Technical Analysis The trendline breakout rally prepares to push the XEC prices above the $0.000045 neckline as the bullish trend momentum increases. Hence, traders can shortly find an entry spot to ride a new bull run. The MACD indicator showcases sustained buying from traders as the fast and slow line gradually rises towards the midline. A potential crossover could offer an extra edge for long traders. The RSI indicator trending higher indicates growth in underlying bullishness. In addition, the indicator slope enters the bullish territory, which hints at an improvement in the underlying sentiments. Hence, the technical indicators bolster the price action analysis and indicate a better confirma...

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